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KICU
Nov 26, 2012 7:00pm PST
, to look over the so-called fiscal cliff. some existing tax cuts will expire. that could slow the economy or even move it back into recession. up until now, republicans have been unwilling to consider raising taxes, something that democrats say has to change. >> as president eisenhower says, there will have to be compromises and seeking the middle of this rote isn't just acceptable, it's the only way forward. >> most republicans signed a pledge to never raise taxes, but gop law makers say that now they'll have to put that pledge aside for the good of the nation. >>> on wall street, the markets.finished mixed, nasdaq gained nine, apple leading the way up 8%. >>> shareholders. some analysts had suggested that investigators are underestimate's facebook's growth potential from ad revenue. the stock gained 8% today but is still well below its public offering price. six months ago, the company went public with an ipo price of $38 a share. >>> securities and exchange commission. walters who's a democrat serves as a democrat, she takes over for mary shapiro, shapiro leaves next month in the wake
NBC
Nov 28, 2012 4:30am PST
of the department to get lost. >>> too sweet? hey, too bad. the new bay area city thinking about imposing a tax on all those sugary drinks. >>> we continue to track the incoming storm. live look at the bridge toll plaza now. take your time, going to be windy and wet. >> this camera shows how windy it is. winds as high as 50 miles an hour. >> a live look at san jose. the storm just rolling into the south bay. we'll have that in less than five minutes. >> that clock is ticking on the approach to the fiscal cliff and a disconnect remains in what the parties are willing to do to try to prevent it. republicans new found willingness to consider tax increases coming with a catch. larger cuts than democrats are willing to consider. trying to keep your taxes from going up january 1st. >>> the white house went online and asked middle class americans what will happen if your taxes go up. thousands responded. some will tell their stories at the white house today. as small business own erbs did tuesday. >> we urged the president -- was to keep the middle class tax cuts. >> small business want certainty so t
ABC
Nov 21, 2012 6:00pm PST
into afternoons. i'll have the accu-weather forecast coming up shortly. >> later tonight, death, taxes. well, pardon me, holiday shoppers last minute frenzy at supermarket chaotic because of a power shortage. >> then, that story on death ask taxes what you can do to avoid turning over half of your childrens inheritance to the government. >> here tonight abc 7 news obtains footage from a deep sea expedition to protect >>> the port of oakland was a zoo today, truckers and shippers trying to catch up on the backlog. explains that back up lasted most of the day. big rig gridlock with thousands of truckers waiting to pick up or drop off what they could not yesterday because of the fdiu strike. >> how did yesterday's strike affect you? >> bad, really bad. you know?>s long lines and port there. they were closed and yeah. you know? we need to work to make money for living you know? >> the union representing 200 maintenance workers blocked entrarnss yesterday effectively shutting it down. he says he was stuck in traffic just getting off the freeway for a half hour this morning taking a hit with yeste
CBS
Nov 23, 2012 4:30am PST
. >>> tax time is still a few months away but there are already changes coming along that could force people in the bay area to pay more. cbs 5 political reporter grace lee takes a look at how changes to the tax laws will impact you. >> reporter: tax changes are adding up and it could cost you a lot. governor brown's proposition 30 raised state income tax on those with a taxable income of $250,000 or more to pay for schools and universities. what you might not know is that it's retroactive meaning if you fall in that bracket, the bill is due this coming april. >> i think there's going to be a few people who will be surprised but there was really nothing you could do plan for it. the election determined whether or not this was going to happen. >> reporter: accountants say for a married couple making $250,000 and filing separately it will cost you about $250. it's not a huge bill but in the bay area where real estate is higher and the cost of living is greater, for most households, disposable income is smaller and every dollar counts. >> this is the type of thing that affects us here. yeah. th
FOX
Nov 26, 2012 5:00pm PST
searched an today for cyber monday: . >> california began taxes on- line sales this year, but at 5:30, why the state may be missing out on millions of dollars because of how that law was written. >>> a new crackdown on internet counterfeiters. 132 international websites were shut down today. >> jaymee: c.e. said they were -- ice said that count fitters send shabby merchandise, or often fail to fill the order at all. >> organized criminals looking to take advantage of unsuspecting consumers to make a quick buck. >> congress returned today from its thanksgiving break with the country still headed toward that fiscal cliff. republicans are pressing the white house for a list of long- term spending cuts. democrats still want to raise income taxes on the rich. so far there is little outward signs the two sides are are closer to heading off the automatic tax increases and spending cuts economists have said could push the economy into another recession. the dow dropped 42 points today. the nasdaq was up by 9. the s&p closed by by 2. >>> a carbon monoxide scare that sent four people to the hospita
NBC
Nov 26, 2012 11:00am PST
, marla. we have just heard from the city tax collector's of bureau of revenue. they are filing this legal action. they confirm the city is going to go after the los angeles dodgers for reimbursement in the treatment of bryan stow. the giants fan who was severely beaten outside of a dodgers game. to help pay for the four months of care it treated stow's injury. the city attorneys have asked a bankruptcy judge to add san francisco to those seeking damage from the team's insurer. this is a bankruptcy issue because the team filed chapter 11. this was a controversy. the city says this is not unusual, but standard practice to go after unpaid bills. it is taking all steps to protect the city's interests. stow and his family is suing the team frin the amount of $50 million. the amount needed for a lifetime of care. reporting live outside san francisco city hall, bob redell, nbc bay area news. >>> now to the south bay. citizens will have a say on who will be the next san jose police chief. city leaders will hold a community meeting tonight to gather input from neighborhoods on what they want to se
CBS
Nov 22, 2012 6:00pm PST
in the bay area to py more. >>> tax time is still a few months away. but there are already changes coming that could force people in the bay area to pay more. cbs 5 political reporter grace lee takes a look at how changes in the tax laws will impact us all. >> reporter: hopefully no indigestion. the bay area is one of the most vulnerable regions to changing taxes and the reason for that is our cost of living is higher and that means prop 30 could affect a larger number of households here. the bigger problem is looming in the federal tax code and it could cost middle class families thousands of dollars. tax changes are adding up and it could cost you a lot. >> we got to make sure we do it right. >> reporter: governor brown's proposition 30 raised state income tax on those with a taxable income of $250,000 or more to pay for schools and universities. what you might not know is it's retroactive meaning if you fall in that bracket the bill is due this coming april. >> there's going to be a few people who will be surprised but there was really nothing that you could to plan for it. it was, yo
CBS
Nov 26, 2012 7:00am PST
. >> the fiscal cliff sparks talks of compromise on capitol hill. >> without a deal spending consults and tax increases will kick in at year's end likely sending the country into another recession. >>> several republicans back away from a tax increase. >> if congress does nothing, which congress has gotten pretty good at doing these days we'll go over the fiscal cliff. >> we have to show the world we're adults. the election's over. president obama won. >>> it's a big weekend for shopping. it isn't over yet. today is cyber monday. the biggest day for online sales. >> shoppers are expected to spend $1 billion 1/2 today. >> and some like to shop in bunny slippers. >> and fret mohammed morsi granting himself extra powers. >> sending the country's stock market into free fall. >> buy a ticket for this wednesday's powerball lottery, you could win in the megaball. >> bradshaw with the touchdown. >> giants tommenate. >> officially a time-out. >> cheerleaders shave their head to support the coach diagnosed with leukemia. >> and all that matters -- >> suddenly changes into
KRON
Nov 24, 2012 8:00pm PST
leadership. they expressed optimism about reaching a deal to avoid a 500 and dollars in tax increases and spending cuts. 500 bill in dollars for tax increases. >> we have a very productive meeting. >> the cornerstone of being able to work something out. >> staffers have been working behind the scenes to find common ground and how to begin more tax revenue and reduced spending on programs like medicare. it is not yet clear one of lawmakers will meet next. even if progress is made this week a final deal could still be make well. >> we rarely see the hill and the white house making decisions, early. they tend to do better when they have a deadline. so, i think that i would be pleasantly surprised if a deal emerged earlier. but, we will see. >> unless compromised is reached, steep tax hikes could be seen. >> this small earthquakes >> the u.s. t s a said the magnitude 3.5 tremor hit at about 7:45 near soledad.. 60 mi. southeast. no reports of damages. >> the day after thanksgiving >> they see a lot of potato peels, putting things down the disposal of the probably should not go down. we ar
NBC
Nov 26, 2012 6:00pm PST
. jessica? >> thank you, scott. all the online shopping means big bucks thanks to a new sales tax on internet purchases. this cyber monday is expected to bring in tens of millions of dollars. that went into effect december 15th. the purpose is to require retailers to charge customers online the moment they buy something. usually when they pay their income taxes. so far california officials have only managed to identify a few retailers as being subject to the new law, though. >> if you're an out of state retailer and you collect more than a million dollars in sales in california, and you have at least $10,000 worth of referrals from instate retailers, then you're obligated to pay that tax. >> did you get that? by 201614 states will collect sales tax from online purchases. >>> a hoax made the rounds today involving google and a company it didn't buy. they claimed they bought another company. they apparently bought the company for $400 million. both companies insist there's no such deal. no one has been able to track the source. they are not worth nearly the $400 million that the fak
KRON
Nov 26, 2012 8:00pm PST
network, a connection your whole house can count on. ♪ >> 36 days and counting, the bush era tax cuts and the implementation of massive spending cuts if they do not come to an agreement. they are back in washington after the thanksgiving break. as catherine heenan explains there are some hints of compromise. the most americans understand the fiscal cliff is a scary and a series of living tax hikes. it could damage the economy. president obama has been pressuring congressional leaders to reach a compromise that increases taxes on wealthy americans. a handful of republicans are suggesting they might break their pledge to never vote for higher indicate taxes. >> and for the good of the country only if democrats would do a title that. >> the pledge that we signed 18-20 years ago but the world has changed. >> is music to the ears of the white house but disturbing to this man. the anti-tax crusader that cut republicans to tax no tax- agreement. it >> if you want to go to your voters and say i promised to this and i am breaking the promise you have that conversation. >> if he seems confident
NBC
Nov 27, 2012 6:00am PST
of companies are handing out early christmas gifts in the form of dividends. why? because of the potential tax hikes ahead. right now a dividend is taxed at 15% max. that could double if certain tax laws expire at the end of the year. keep in mind, if we go over the fiscal cliff, taxes go up. but in order to avoid the fiscal cliff, it's likely washington would have to raise taxes anyway. so anyway dividends now are better than dividends later. >> interesting to see how this is all going to play out. thanks, scott. >> giving money for christmas is always easier than shopping and standing in line. thank you very much. >>> well, investigators right now trying to figure out exactly how shreds of sensitive documents ended up being tossed out as confetti during the recent macy's thanksgiving day parade. spectators in new york city last thursday noticed some of that confetti included social security and license plate numbers. that's not good. some even found notes about mitt romney's police motorcade when he visited new york last month. the debris didn't really bother santa too much but it appears to
NBC
Nov 27, 2012 11:00am PST
republicans may be willing to back off an old pledge not to raise taxes. this is ahead of trying to avoid the fiscal cliff. we have tracie potts with details from washington. >> reporter: today, president obama meets with small business leaders. a new white house economic report warns if tax breaks go away, the average middle class family will owe uncle sam $2,200 next year. >> middle class families should see an extension of the tax cuts. >> reporter: some republicans who have been dead set against raising taxes on anyone now hint they may consider other options. >> we have been open to revenue by closing loopholes as long as it is tied to spending cuts and pro-growth tax reform that broadens base. >> you don't raise rates. you cap the amounts of eitemize deductions. >> reporter: america is borrowing too much money trying to keep social security and medicare afloat. >> there will come a point in time where we can't borrow anymore money and interest rates will sky rocket. >> this congress is already one vote away from avoiding the fiscal cliff. >> reporter: and no word yet on when the nex
CBS
Nov 26, 2012 4:30am PST
billion in tax hikes and spending cuts that will kick in. both sides say they're looking for ways to compromise. >> that's what it's about, if regan and o'neill can do it, obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key is whether or not the republicans will move away from the id logically rigid tradition which was the grove pledge that they will not go for additional revenue. >> reporter: for the first time the antitax pledge seems to be negotiable. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid the coming grief and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean new taxes. >> i would be very much opposed to raising tax rates, but i believe we can close a lot of loopholes. >> reporter: and democrats say just closing loopholes and cutting deductions isn't enough. >> we have to raise additional revenues and tax rates on the wealthy. >> reporter: in any deal, republicans insist on big cuts to e
CBS
Nov 26, 2012 12:00pm PST
to show some political courage to prevent tax increases and spending cuts from taking effect january 1st. >> there's a menu of options on the revenue side and on the entitlement side, and while there are two parties, they are willing to solve this problem, this is a very easy thing to do technically. >> reporter: republicans are hinting they may be open to a compromise that raises revenue but many are still firm they won't let bush-era tax cuts expire for the wealthiest americans. >> i would be very much opposed to raising tax rates but i do believe we can close a lot of loop holes. >> reporter: democrats say just closing loop holes and limiting deductions is not enough to make a dent in the nation's $16 trillion deficit. >> you've got to raise additional revenues, including tax rates on the wealthy. those have to go up. they have to go up. >> reporter: but many republicans believe the best way to close the gap is reform entitlement programs like social security and medicare. democrats aren't on board yet. >> my concern about raising that medicare retirement age is there will be gaps
NBC
Nov 27, 2012 4:30am PST
republicans may be willing to back off an old pledge never to raise taxes. this comes as congress looks to avoid the so-called fiscal cliff where automatic tax hikes and spending cuts kick in at the end of the year if a deal is not reached. nbc's tracie potts has new details this morning from washington. >> reporter: today president obama meets with small business leaders, continuing his push for higher taxes for the wealthy. a new white house economic reports warns if tax breaks go away, the average middle class family willow uncle sam another $2200 next year. >> it seems to be a thing that we can all agree on, that middle class families should see an extension of these tax cuts. >> reporter: some prominent republicans who have been dead set against raising taxes on anyone, now hint they may consider other options. >> we've been open to revenue by closing loopholes as long as it's tied to spending cuts and pro-growth tax reform that broadens the base and lowers rates. >> you don't raise rates, you just cap the amount of itemized deductions of taxpayers. >> reporter: the bottom line is
CBS
Nov 26, 2012 5:00pm PST
that it is important that congress extends the middle class tax cuts without delay, without drama. and it is because it will help to maintain the increase in the consumer confidence that we have seen. >> reporter: both sides say they are ready to compromise to avoid the nearly $600 billion in tax hikes and mandatory spending cuts, scheduled to kick in on january 1. but the taxes, they remain the sticking point. republicans and congress, they have been long opposed to any tax increases, but the gop lawmakers say that they are open to raising more revenues through the tax reforms. wyoming republican says that entitlement reform will also need to be a part of the solution. >> medicare and social security, they are the two big title waves that are coming at us in terms of the spending. >> reporter: the gop leaders say they will need the democrats to give more in order to cut a deal. >> it is time for the president to present a plan that rises above these wreckless and radical voices on the hard left. >> reporter: the report from the white house economists, they say that the middle class families will
KRON
Nov 24, 2012 11:00pm PST
leadership. >> congressional leaders reached optimism levels of spending cuts and tax increases for next year. >> we have a very constructive president with the president to talk about the economic problems. >> with a cornerstone to work something out. >> they have been working common ground to bring in more tax revenue and reduced spending on programs like medicare but it is not that clear what lawmakers or when there will meet next. even if some progress is made a final deal could be a long ways away. >> we've rarely see it the white house and capitol hill make decisions, early. they seem to do better when they have a deadline. i would be pleasantly surprised to see a deal the merge, early but we will see. >> that was athena jones. tax hike and a steep spending cuts could take place next year. >> the saturday after thanksgiving is the time to celebrate small business saturday to encourage shoppers to patronize mom- and-pop businesses. such was the case today at this space hardware and elceritto small business saturday was launched by american express in 2010. >> this nice holiday weekend ta
NBC
Nov 28, 2012 11:00am PST
they rejected the soda tax in richmond, a berkeley city councilwoman wants her city to give it way. the counselwoman urged the city to consider putting added tax on swedened drinks sold in the city. she says the money raised from the tax can go to support youth education and health programs. voters in richmond overwhelmingly rejected measures and which would have placed a one cent tax on every soda sold. >>> okay. when we come back, barry bonds, the baseball giant back in headlines. >>> okay. let the debate begin. is he in or is he out? major league baseball announced that the all-time home run leader, also a bay area native, barry bonds is on the 2013 hall of fame ballot. and it stirred up a little bit of controversy. >> yeah, for a lot of years, fans have been arguing whether barry bonds, and sammy sosa actually belong on that hall of fame. it's well-known that former giants slugger along with sosa and clements, they've had their careers tainted by steroids or performance-enhancing drugs. so far, no one tied with the steroids era has received enough votes for the hall of fame. bu
CBS
Nov 26, 2012 6:00pm PST
back at work after the holiday break and shifting view op tax -- on tax reform and their demand from democrats. >>> and why more workers at a bay area airport could be allowed to carry firearms. >>> a bay area college launches a new recruiting strategy. why it is spending six figures to target a specific group of students. ,,,,,,,, when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. oh, it's great! now i can brew my coffee just the way i love it. how do you do that? well, inside the brewer, there's this train that's powerful enough to carry more coffee and fresh water to make coffee that's stronger and bigger... and even hotter! actually, i just press this button. brew the coffee you love -- stronger, bigger, or hotter -- for ways to hit the brakes. >>> and now at 6:30, the fiscal cliff is looming as lawmakers on capitol hill look for ways to
NBC
Nov 26, 2012 5:00pm PST
. >>> with the fiscal cliff looming, the white house today continued its hard line, insisting that tax rates have to rise for the rich, and warn that any more delays would ruin consumer confidence. there are signs of movement on capitol hill, but democrats are not willing to cut social security and medicare. and while some republicans agree the rich should pay more, they want to raise money by reducing deductions, not through higher tax rates. >> i don't care if you raised taxes 100% on the wealthy, you're not going to fix the deficit problem. >> the president has made clear that he will not sign a bill that extends the bush era tax cuts for those make mortgage than $250,000. >> billionaire warren buffett, an obama ally today wrote an editorial in "the new york times," calling for a higher minimum tax for the wealthy. >>> a shake-up in the middle east in politics today as an israeli moderate resigns. israeli defense minister ehud barack abruptly quit politics today, saying he'll only finish out his term. the obama administration had embraced him as a moderate influence on benjamin netanyahu's har
FOX
Nov 27, 2012 7:00am PST
this -- at the end of this year. the president wants to extend tax cuts for middle-income americans while letting them expire for those people who earn more than $250,000 a year. coming up at 7:45, whether republicans and democrats are any closer to a deal. >>> wellge the nation's lowest housing -- well, the nation's lowest housing rate is in the south bay. only 3% are vacant. that translates to just 28,000 empty properties out of almost 651,000. nationwide apartment rents are expected to go up again next year. the national association of realtors rents will go up 4.6% because demand exceed supply. in 2014/2015, rents will probably go up more than 4%. nationwide they went up 4.1% this year. but here in the bay area, they are up more than 13%. >>> it is 7:5. a crane had to be us -- it's 7:35. a crane had to be used for a sink holt. these pictures are from a -- sinkhole. these pictures are from a neighborhood blog. it's not clear what caused the sinkhole or when it might be fixed. >>> let's go back to tara. what's happening on highway 101? >> well, you know? we got a lot of traffic out there. a lot
KRON
Nov 26, 2012 5:00pm PST
more is known about whether and not government leaders will be able to avert the fiscal cliff. >> taxes go up for everyone, less money to spend and you don't buy anything. >> one of the benefits of shopping on line is that you can do it from just about anywhere. with most people back to work on sun insider monday we're asking on facebook if you made any purchases from your job? if you have not done any cyber monday shopping yet it is still out there still time to snag a deal. >> the stakes are high and we need to address this in a serious way. >> this is the thumb and louise crowd. the ones who dream of higher taxes and bigger government. >> is only the house would consider freezing tax rates for 90 percent of the moment american families >> people want to know if washington is any closer to avoid the dreaded fiscal cliff. we'll have the latest on progress after the break. >> 36 days and counting until the fiscal cliff and washington lawmakers are heading back to work after thanksgiving break. there are hints of compromise in the air. most americans understand the fiscal cliff is scary
NBC
Nov 26, 2012 4:30am PST
month, automatic tax increases and spending cuts will kick in for all americans. danielle leigh is here with signs of a compromise. >> reporter: back from their turktu turkey dinners, lawmakers say they are refreshed and ready to compromise. republicans have been unwilling to raise taxes and democrats have been refusing to cut social security and medicare. now all that has changed. >> i'm willing to generate revenue. it's fair to ask my party to put revenue on the table. >> reporter: republican senator lindsey graham says he'll violate a plan not to raise taxes and democrats are open to reforming entitlement programs they have been pro teching. >> bring entitlement reform into the conversation. >> reporter: but it comes with contingencies. many republicans still want to raise revenue by capping tax deductions or closing loopholes, not by increasing taxes on the wealthy. democrats are still trying to keep some entitlement programs out of negotiations. >> social security set aside, doesn't add to the deficit. when it comes to medicare and medicaid, protect the integrity of the program. >>
NBC
Nov 27, 2012 6:00pm PST
it so far. the impasse is over raising tax rates on upper bracket income earners. republicans say they're willing to consider a tax hike but they want larger cuts made to benefit programs. the small business leaders came to avoid the cliff and tax hike on the middle class. on friday he's off to philadelphia where he will make a public case for his strategy and two gop leaders. >> rather than sitting down with lawmakers of both parties and working out an agreement, he's back on the campaign trail. >> the election was conclusive in terms of which path the majority of the american people want to take. >> house republicans are also planning to hold events in the coming weeks with small business owners to highlight the effects the tax increase could have on them and their likelihood. how does the fiscal cliff impact california? larry, a lot of talk on how it will impact high earners. a lot of middle income class folks could feel it as well. >> if we go over the fiscal cliff, we're going to suffer as much as anyone else. that in itself is a distressing combination. of 2 million jobs lost nat
KOFY
Nov 26, 2012 9:00pm PST
over a fiscal cliff with a tax hike for everyone on new year's day and spending cuts on federal programs. today some republicans are defying party politics and break ago pledge they made in the name of a sluchlingts jonathan karl explains article of republican faith for decade. no tax increases of any kind, period. behind it all. this man. november quist. considered one of the most powerful men in washington. sentences he worked for ronald reagan in the 1980's he's gotten virtually every elected republican to sign a pledge promising no tax increases. >> taxpayer friendly congress. >>reporter: sign to it help electricityed don't violent it for fear of getting hammered for breaking the word. >> how many of these things have been signed. >> thousands over the years. >>reporter: he keeps them on file. n boehner pledge signed 20 years ago. >> nobody signed this 10 years ago, 18 years ago 20 years ago are they still bound by it. >> no. >>reporter: when you got married did your wife make a promise when you borrowed money to bite house. that mortgage that was 10 years ago. you
KBCW
Nov 25, 2012 8:30am PST
in all of the states in the union to raise taxes on the rich. he did that in california. believe me, i am sure that if anybody had an idea it is retroactive. it goes back to january 1st, 2012. a whole lot of people in the state of california owe a whole lot of money they didn't know they owed people. jerry brown is magnificant in the way of reaching manager to move the pea under the pod! >> the pea under the pod? [ laughing ] at the same time the california has massive spending on the cap and trade program. if things don't pan out and he holds himself up responsible for incredible things happening in the state, he will be out there if these things don't work out. >> not just cap and trade, but -- . >> he could be held up for -- . >> he is going to succeed. my cousin is going to succeed. >> my cousin! brown and brown! >> speaking of hi favorite, sutter brown, the corky, the dog, he is so darned cute. they parade that had dog and to get people to vote for prop 30 and it may have worked! >> you know, in politics as in news reporters, if you can get a dog and a kid on the cover, chan
NBC
Nov 25, 2012 11:00pm PST
the so-called fiscal cliff. that's when spending cuts and tax increases kick in. lawmakers from both parties are racing the clock to reach a compromise but despite a lot of optimism there is no plan on the table. brian moore has the story from washington. >> reporter: back from an extended holiday and facing a looming deadline, lawmakers from both parties seem optimistic about diffusing the fiscal cliff time bomb. >> unfortunately, for the last ten days with the house and congress gone for the thanksgiving recess there hasn't been much progress made. tomorrow there's no excuse. we are back in town. >> reporter: democrats want to raise taxes on the wealthiest americans and republicans who once refused to raise taxes on anyone ever are signaling their willingens to compromise. >> when you are $16 trillion in debt the only pledge we should be making to each other is to avoid the coming grove and republicans, republicans should put revenue on the table. >> the world has changed and the economic situation is different. ronald reagan and tip o'neill realized that in t '80s. already if repu
NBC
Nov 28, 2012 5:00am PST
class families telling their stories. what would happen if they had to pay another 2200 dollars in taxes next year. president obama meeting with big business ceos. we're talking companies you'd recognize. republicans meeting with top ceos, pushing their side of things. now, republicans also criticizing the president for a trip that he hasn't even taken yet. friday, he hits the road to take this message to pennsylvania, to a toy manufacture there, talkinging about how do we avoid the fiscal cliff. spending cuts and tax increases that go into effect at the end of this year in congress does nothing right now, behind the scenes. the negotiations, not a lot to report. >> tracie pots, thank you very much. >>> checking on that rain. 5:43. the first of the storms rolling in. certainly packing a punch. we have a team in place watching the sky and roads for you. how's it looking there? >> good morning. so far, so good, for one of the most dangerous highways in the entire state of california. traffic is starting to pick up as we approach the 6:00 hour. traffic heading over the hill into san jose. n
ABC
Nov 27, 2012 5:00am PST
to avoid the fiscal cliff. automatic tax hike and spending cuts for all americans unless congress and the president can reach compromise. biggest obstacle of no tax increases of any kind signed by most republicans. grover norquist is behind that pledge and has convinced thousands of republicans to sign in exchange for helping them get reelected. with fiscal calamity on the horizon some gop lawmakers are changing their tune. >> i will violate the pledge, long story short, for the good of the country. >> president has made clear he will not sign a bill that extends the bush era tax cuts for those making more than $250,000. >> some republicans open to breaking the say they will did it by closing tax loopholes they say entitlement reform has to be part of the discussion. >>> general motors has its eye on california to lunch a new electric car model. -- to launch a new electric car model. >>> an all-electric version of the chevy spark next summer starting in california and oregon nor less than $25 thaw -- $25,000, after a tax credit. if you are looking for the new wii-u. nintendo scram
FOX
Nov 24, 2012 7:00am PST
sales tax revenue from goods ships from the center. they have announced a number of new centers in california after state lawmakers agreed to give them a one year reprieve from collecting sales tax if they agreed to build in the state. >> lots of people buying their christmas trees this weekend. what types are expected to be the most popular. >> and cigarette smokers being asked to recycle. what a company wants to do with them. >> and a weather will highlight your saturday afternoon. a look at your day planner coming up. six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [
NBC
Nov 20, 2012 6:00pm PST
investigations. we know he owes a lot of unpaid taxes to the irs and the state. but a group of investors wants to know how he's getting away with everyone's money. >> and i have invested over $200,000. >> i have defrauded out of at least $25,000. >> they are all part of his money trail, willing investors joining a growing list of victims. >> i lost over $50,000. >> i invested more than $100,000. >> how many of you thought this was a good investment? they are also part of a group, 18 different bay area investors, a total of nearly $2 million. how many of you believe you're a victim of a crime? >> there's something wrong when all those people put up their money and got nothing back. >> harry osborne has an inside perspective. he worked as a saleman for the guy who has all their money. he watched the investment opportunity crumble. >> i think a lot of this was a scam, too. i think he was paying the interest from the people who were putting more money in. >> here's how it worked. investors were lured by advertisements in the san jose mercury and other newspapers promising a 10% return. their inves
NBC
Nov 28, 2012 6:00am PST
putting a soda tax on the bal t ballot. she floated this idea during last night's city council meeting. voters, they defeated a similar soda tax earlier this month. >>> a bus driver being hailinged a hero after saving a girl from a burning bus. carrying the wheel-bound chair girl off the bus when the engine compartment caught fire. >>> president obama meeting with yahoo! ceo and other leaders today to discuss the looming fiscal cliff. they are still trying to hammer out some kind of compromise. to avoid tax increases that would kick in starting january 1. >>> yeah, meyers has been quiet since taking the reins at yahoo! back in july. >> she has been very busy. she just had a baby as well. we finally get to see meyers back in public. >> "fortune" magazine awarded her as one of the most powerful women in business. she did address her baby, saying being a new mom is actually easier than she expected and her job at yahoo! more fun than she expected. her secret, she says, is prioritizing. she referred to vince lombardi's three priority, god, family and the packers. >> you know, i think for m
ABC
Nov 28, 2012 4:00pm PST
, the president met with middle class americans raising concerns about taxes going up at the end of the year. both republicans and democrats agree that had no one wants the country to go over the so called fiscal cliff. but what are they doing about it? >> at the top of the wish list, a deal to a voice sending the economy over the fiscal cliff. >> my hope is to get this done before christmas. >> today, the president joined by middle income earners reaching out to the administration about keeping taxes low. >> if congress does nothing, every family in america will see their taxes go up at the beginning of next year. >> the white house is urging americans to use social media to push congress to act. keying in on $2000 tax increase going into affect next year for the average family of four. >> what is that again? my two? k. tweet use, my 2 k or e mail. post it on member of congress's facebook wall. do what it takes to communicate a sense of urgency. >> they may not agree on details but house speaker john boehner and house minority leader agree on one thing. failure is not on the table. >> going over
CBS
Nov 26, 2012 5:00am PST
republicans are open top some forms of tax increases and whether democrats will consider cuts to entitlement programs. >>> e elected officials including the governor and all the legislatures are getting their pay cut by 5%. for example, pay for the attorney general palilia harris is being cut to $143,000. that's a hundred thousand less than her replacement. but people don't run for office for the money. >> they're doing it because of a variety of factors, including the pursuit of power, the ambition to go to higher places and also of course hopefully public service that they want to give back to their community. >> the california citizens compensation commission ordered the pay cuts and they cut per diem pay by 18%. >>> carbon monoxide sent more than a dozen people to the hospital in san francisco. the fire department was called to 1223 courtland street about last night over a carbon monoxide leak. there were 14 people at the home that were taken to the hospital. they're expected to be okay, but city officials and pg&e are still trying to figure out what caused the problem. >> when we arrive
ABC
Nov 23, 2012 4:00pm PST
today. why it was a good day for giants fans.. >> battle for holiday dollars. how a new tax on internet purchases changed a playing field. >> cutting the cord when it comes to music, taking a look at wireless speakers and impact on audio quality. >> looking at the skyway, head together east bay, left to right, just fine. better than you'd expect on a weekday. it's a holiday for many people. but congested on the ride side of the screen stay with us, abc news at 4:00 continues in online retailers collect tax only in states in which they have a physical presence. now, amazon is building two giant warehouses including this one near los angeles a million square feet, for the old fashioned retailers it's another reason to worry. >> why? because amazon goal to get items to customers faster, and to be able to offer same day delivery that. is right you can avoid stores and have a package delivered in a matter of hours. a win for consumers but tough for local retailers. >> if amazon creates distribution centers, that take as way from one advantage we see retailers have left to compete against ama
ABC
Nov 26, 2012 4:00pm PST
that republicans may be willing to deal on the most controversial issue. tax autos i'm willing to generate revenue. >> for many, doing just that would mean breaking a pledge to not raise taxes and taking political risks that come with it. >> world changed. >> the no neweh9hn taxes pledges the brain child of grover norquist. >> the pledge allows elected officials to make it clear openly to the voters where they stand. >> here in washington he carries weight as evidenced by lawmaker xgh signed the pledge over the years. norquist told abc news this isn't about him and lawmaker autos don't tell me bit. they need tochl plain to voters.twrht >> there is still a catch. >> i will violate the pledge for the good of the country only if democrats will do reform. >> the white house indicated everything is part of the discussion. >> abc news, washington. >> stocks gave back a little of last weeks gain was traders concerned with about the fiscal cliff. dow jones gave back 42 points to finish at 12,967. the s and p 500 off nearly three. >> jipgss planned a real yeel against a recent power grab by president mors
CBS
Nov 27, 2012 5:00am PST
, she said at tax stemmed from a protest against an anti-islam video. rice is considered a possible nominee to replace the outgoing hillary clinton as the secretary of state. >>> meanwhile, lawmakers on capitol hill are jockeying for position right now in efforts to fix the federal budget and avoid the dreaded "fiscal cliff." if they don't reach a deal by the end of the year, tax hikes and across the board budget cuts will automatically kick in. susan mcginnis has more on today's efforts to get democrats and republicans a little closer together. >>> reporter: president obama will begin a media blitz this week highlighting his efforts to steer clear of the "fiscal cliff." he will first meet with small business owners at the white house today. at the other end of pennsylvania avenue, fellow democrat senator dick durbin will give what's being called a major speech laying out a case for a bipartisan deal. durbin's a member of the senate's gang of 8, four democrats and four republicans who have collaborated on ways to reduce the nation's debt for 2 1
KRON
Nov 25, 2012 8:00am PST
. and dealing with the loving fiscal cliff looming -- they will have to deal with this to avoid tax increases and spending cuts at the net jones has the latest on the negotiations. >> after meeting with president of,. >> let me welcome the congressional leadership. >> expressed optimism to avoid $500 billion on tax increases and spending cuts next year. >> we have a very constructive meeting with the president to talk about the americans financial problems. >> we have a cornerstone to fig. >> the have working behind this seemed to work together to bring in tax revenue and reduce spending on medicare but it is not yet clear what lawmakers will meet next. even if some progress is made a final deal could be a long way away. >> we rarely see the hill and the white house make decisions early they do better when they have a deadline so i would be pleasantly surprised to see a deal emerge earlier. by the end of the year, so we will see. >> tax hikes and steep spending cuts will take place next year. >> 8:41 first, this live look outside at san francisco still very foggy. there are some bridge adviso
KRON
Nov 28, 2012 4:00am PST
by the day tax increases and deep spending cuts take effect in five weeks. if lawmakers cannot reach a deal. with little progress being made in washington president obama is hitting the road. at paine has the story. >> the mood was optimistic earlier this month when president obama met with congressional leaders to work out an agreement to avoid this cliff. now the president is taking his case mr. obama met with small-business owners tuesday. today he hosted an event with middle-class americans and sits down with some of the nation's top ceos. friday he travels to a manufacturing plant in pennsylvania senate minority leader mitch mcconnell question the president. >> president saddam the law makers and working out with the agreement is back on the cam best-president obama >> the president got input outside the beltway. he wants to continue the conversation when business leaders, small business leaders, civic leaders, and labor leaders because everyone has a stake in this. >> lawmakers have just over a month to reach an agreement to keep the country from going over the so-called fiscal cliff.
FOX
Nov 25, 2012 7:00am PST
the congressional leadership here. >> reporter: congressional leaders expressed optimism to reaching more in tax increases and that is to take effect next year. >> constructive meeting with the president to talk about america's physical problem. >> we have the cornerstones of being able to work something out. >> reporter: they have been working behind the scenes to find common ground. the sticking points how to bring in more tax revenue and reduce spending on programs like medicare. but it is not yet clear when the lawmakers and the president will meet next. even if some progress is made this week. a final deal can be a long way off. >> we rarely see the hill and the white house make decisions early. they tend to do better when they have a deadline. i would be pleasantly surprised to see it, a deal emerge earlier than the end of the year. but we will see. >>> that was athena jones reporting. >> they suggest if a compromise is not reached. californians could be slapped with new taxes and the state could be thrown into a $11 billion deficit. >> house of representatives could sleet next week. it wo
FOX
Nov 26, 2012 7:00am PST
season if congress does not act by the end of the year, everybody will owe more in taxes come next april and that most certainly could affect people's spending habits now. >> i think it means they are not spending as much as they would because they still don't know what is gonna happen. >> congress only has 35 days to come to an agreement on deficit reduction. if they don't, automatic tax increases and spending cuts will go into effect january 1st. both parties say they are ready to compromise but still no real progress has been made. >>> 7:33. one bay area hospital demanding to be reimbursed by the los angeles dodgers for the treatment it gave to bryan stow, the giants' fan brutally beaten in l.a. brian flores is live at san francisco general hospital with more. >> reporter: hi, dave. san francisco general hospital is seeking a $1.2 million medical reimbursement from the dodgers for medical care of bryan stow. the hospital went to -- hospital went to u.s. bankruptcy court in order to seek permission for this. now, stow who continues to receive around-the-clock rehabilitation treatment,
NBC
Nov 23, 2012 6:00pm PST
to drown out the noise next week as they look more common ground to avoid $500 billion in tax increases. several unions launched an ad campaign, pressuring lawmakers to protect entitlement programs. >> for working families, it's not about cutting things we rely on most. >> reporter: advocates for the elderly, weaponsmakers, the oil and gas industry, even charity. >> congress has failed to do its job for the past ten years and they are so far continuing to fail to do their job. >> reporter: rick edleman worries the tug of war could end with no solution. a real possibility, as democrats reject spending cuts and republicans resist tax increases. >> if you're in congress, you can reduce taxes on january 2 relative to the new rates that prevail starting then. >> reporter: it's a dance analysts doubt lawmakers will risk taking. >> since it will affect every voter, i suspect there whether be a deal. >> reporter: lawmakers will start next week committed to compromise. in washington, danielle lee, nbc news. >>> in health matters tonight, news for patients who take medication for high cholesterol
NBC
Nov 26, 2012 7:00am PST
not reach a deal your taxes could rise and sharp spending cuts would go into effect as well possibly triggering a recession. chuck todd is nbc's political director and chief white house correspondent. chuck, good morning to you. >> good morning, savannah. >> the goal here is to get a deal that reduces the deficit, and the battle lines have been pretty clear right now. the president campaigned rolling back the tax breaks for the highest earnings and republicans argued spending cuts are the way to get the deficit under control. are we starting to see a softening of those positions on both sides? >> reporter: here's what there's agreement on. both sides, both parties agree that the wealthiest have to pay more, and the question now and the sticking point at this stage is how do you go about making the wealthiest pay more? do you do it by raising the tax rates? that's what president obama wants to do. wants to raise the tax freights 35% where they are now up to where they were during the clinton years at 39% what. republicans are arguing is you don't have to do that. you can get all of th
ABC
Nov 28, 2012 5:00am PST
the money and run. whatever happens with the fiscal cliff taxes on the very >>> good morning. winds gusting in excess of 30 miles an hour at our coast, wind advisory throughout the entire bay area -- [ inaudible ] wind warning at our coast we could see winds there in excess of 60 miles an hour through 11:00 this morning. >>> we'll continue to keep an eye on those winds. residents on the peninsula will be keeping an eye on a slipping hill slide where a mudslide happened earlier this month. a water main break caused this mess along several streets in daly city november 13th crews have been going around the clock to shore up parts of that hill to keep debris from flowing into the neighborhood daly city has spent almost half a million dollars to repair the damage. >>> in iraq residents of a baghdad neighborhood are cleaning up following a car bombing the blast killed five on a day when insurgents launched taxes against security forces and civilians in central and northern iraq yesterday, 30 were killed, dozens wounded. >>> in egypt several hundred protesters continue to clash with police in cai
CBS
Nov 26, 2012 6:00am PST
is the not reached by the end of the year, a series of tax increases and spending cuts will automatically kick in. lawmakers in both major parties say they're willing to compromise. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming brief and republicans should put revenue on the table. >> the big questions are weather republicans are open to some forms of tax increases and whether democrats will consider cuts o to entitlement programs. >> a san francisco couple challenge of the defensive marriage act may be one of several the u.s. supreme court considers this week. the justices will decide whether to hear an appeal from the defenders of the prop 8, the initiative banning gay marriage. they're expected to meet this week to decide which cases it will hear next we're. >>> time for health watch this morning, it's 6:19, it appears childhood injuries related to inflatable bouncers are on the ride. that's according to a study published in the journal of pediatrics. bouncers and moon walks are popular at parties but it can put children at risk for
NBC
Nov 27, 2012 5:00am PST
over the effort to discuss efforts to avoid the fiscal cliff. that's the combination of tax hikes and spending cuts set to take effect january 1st. the "washington post" reports that boehner plans to have some house republicans meet wither skin bowles. on wednesday president obama will meet with other top ceos. futures meantime are flat this morning, stocks slipping back on monday. the s&p 500 index snapping a five-day winning streak. investors continue to watch those budget talks in washington. meantime, we are expecting today to get some data on demand for durable goods, home prices and consumer confidence. the dow slipping back below 13k losing 42 points to 12,967. the nasdaq edging up nearly 10 to 2976. and i would do a campaign not to vote for marissa mayer for "time" person of the year. remember when we had the head of amazon on the cover of "time" back in 2000. i think there's a little jinx in that. a little like the si jinx. so don't vote for her. >> fair enough. no on mayer, that's our position. bertha koomcoombs, thank you mu >>> remember we were talking about that new n
KRON
Nov 26, 2012 7:00am PST
year. this morning the economic council and the economic council advisor a say the increase in taxes and the fiscal cliff we're talking not add the in the year. if that happens and we go over the cliff consumer drop spending could drop by nearly $200 million next year. this is why investors are a little apprehensive. >> people do believe in the class and they understand that it is no joking matter. --cliff the poll indicates 17 in 10 americans are calling for a compromise on the issues. they are pessimistic about anything actually happening. one out of four people say tax increases and spending cuts will it cause a crisis. >> the giant l'oreal is buying the edgy private cosmetic company urban decay. it will give l'oreal another entry into the specials as brands. urban decay makeup is sold through specialty retail stores like so fora for online shops. this deal will give l'oreal extended reach. we will take a break in here as aid look at our toll plaza. the fog is a real problem as we're watching the news began to back up. we will talk to george st of the drive times are slowing down.
ABC
Nov 27, 2012 6:00pm PST
and the president are no closer to a deal to avoid masigs, tax increases in spending cuts that so called fiscal cliff. the senate top rbi republican says the president is back on the trail instead of sitting down with lawmakers to negotiate a settlement. the president met with small business owners to built support for the aproich. tomorrow, meeting with middle class families. the president wants higher taxes for the wealthy. and un ambassador susan rice went to capitol hill to meet with republican senators. she's high on the list to secretary of state. she's been under fire from senate republicans over the attac killed four americans, including u.s. ambassador chris stevens. today's meeting did not go well. >> we're doubled by many of the answers that we got. i'm more disturbed now than before. >> the republican senators stopped short of saying they'd block the nomination. they say they need more information and have more questions about the incident in benghazi. >> we're coming up on december to 1. that is the day mayans said the world would end. one scientist has been answering countless let
CBS
Nov 25, 2012 7:30am PST
wanted you guys to take a measure to the voters to raise taxes to get more police because you had these tremendous cuts. the council didn't do that. what are you offering the any chief? what sort of plan are you giving the new chief? >> i believe that's going to be one of the things that the new chief is going to have to do. he's going to have to be able to come in and i think convince the council to be able to bring in more resources so that they can provide more personnel and boots on the ground. >> so you are part of a council. >>> part part of the council. >> there's no doubt it's a bad state for the police down in san jose. i'm talking about the police officers on the street. everyone is very frustrated with the way things have been going. it's been very difficult. >> it has been very difficult. i think that's going to be one of the other things that the new chief is going to have to do. >> i like to think that the council listens because i know i listen when communities come in and gives input. i think that we really need to be able to commit to the community that whatever
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